Where no bid is made, the reserve price may be reduced within the limit provided for in article
267 (10) above by a decision of the president of the competent court.
Where no bid is made despite the reduction of the reserve price, the property shall be adjudicated
in favour of the pursuing creditor for the amount of the first reserve price.
The irresponsible bidder shall not bid during the new auction sale.
Official translation
Spot-checked
In force from 10 April 1998
Source page 85
Section 322 of the Acte uniforme portant organisation des procédures simplifiées de recouvrement et des voies d'exécution/akn/ohada/act/loi/undated/aupsrve-1998